How Do Patent Laws Help an Inventor

question 64

Multiple Choice

How do patent laws help an inventor?

• A) They let the inventor keep his patents indefinitely.
• B) They help the inventor meet potential buyers for his patented inventions.
• C) They provide protection for patented inventions from infringement.
• D) They help the inventor guard his patented invention from the public.

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Definitions:

Fair Value

Fair value is an estimate of the market value of an asset, based on its current price in a fair and open market transaction.

Bonus Method

A method in accounting for partnerships where a new partner's investment is recorded at an amount that is different from the stated value of the partnership's net assets, affecting the capital accounts of the existing partners.

Journal Entry

A journal entry is a record of a business transaction in the accounting books, detailing the financial effects of that transaction.

Net Income

The company's net income following the deduction of all costs and taxes from its earnings.